The oil and gas producer's profits took a beating in 2009 as commodity prices dropped. During the first quarter, declining natural gas prices led Devon to
write down $4.2 billion on the value of its oil and gas properties -- although that was a significant improvement over the $7.1 billion it wrote down in 2008.

The company got a fourth-quarter boost thanks to cost cutting, increased production, and rising prices. Devon has decided to focus solely on its North American onshore business, and
the sell-off of its offshore and overseas assets could bring in up to $7.5 billion. Industry watchers have also floated its name as a possible takeover target.